July 5th, 2010
Figuring out how to pay for your child’s college education can be a major financial headache. Add the complex dynamics of a blended family to that situation and the stress level can go through the roof!
But it doesn’t have to be that way. With some honest conversation, a clear plan, and a solid sense of reality, you can find your way through the sometimes-choppy process of making financial decisions with your child’s other parents without creating new problems.
Get the 5 keys to a successful arrangement HERE.
View all the Money Couple Minutes HERE.
Tags: college costs, college saving, financial communication, kids and giving, kids and money, kids and spending, money communication, overspending, step-kids and college, the money couple
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June 21st, 2010
For many couples, the idea of working together sounds heavenly. But we’ve seen so many life partners try to be business partners only to find that their finances - and their relationships - can’t survive the shift.
There are, however, couples who can make a business work–we work together and love it. So if the two of you are considering starting a business together, here’s what you need to know:
1. You Must Be Equals
2. Know What’s Really Involved
3. Capitalize On Each Other’s Strengths
4. This Is a Financial Decision, Not an Emotional One
5. Have Regular Business Meetings
Read the entire Money Couple Minute including the full details under each point mentioned at “Should You Go Into Business Together?” You can view all the past Money Couple Minutes HERE.
Tags: financial communication, go into business together, money communication, money secrets, the money couple
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June 4th, 2010
Nearly every relationship harbors some level of financial infidelity. It might be as minor as not telling your partner what you really spent on her birthday gift or as major as keeping a secret bank account to pay for your gambling addiction. (Find out where you stand with the Financial Relationship Index) Either way, the path to healthy financial communication will never be smooth unless you are honest about your behavior and…[Read the entire Money Couple Minute,
5 Steps to Confessing Financial Infidelity].
Tags: confessing financial infidelity, financial communication, financial mistrust, money communication
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May 24th, 2010
Shelley was putting away her husband’s laundry when she discovered a stash of bills for a credit card she didn’t recognize. It’s a story that plays out over and over with couples we talk to. Everything seems to be fine and then Bam! One of them discovers the other has been keeping money secrets.
If you’ve just discovered your partner has been hiding money from you, using a secret credit card, or lying about spending, what we call “Financial Infidelity”, you have a choice to make…[Read the entire Money Couple Minute HERE].
Tags: breaking the budget, financial cheater, financial communication, financial infidelity, money communication, money fights, money secrets
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May 10th, 2010
With clear expectations and solid financial communication, couples can get to their big day without the added stress of money battles. Here’s how to make sure the road to the wedding is as wonderful as the wedding itself.
For Parents:
1. Get on the same page. View complete details HERE.
2. Be sure about what strings are attached. View complete details HERE.
3. Make sure all the parents are happy. View complete details HERE.
For Couples:
4. Assume you’re on your own. View complete details HERE.
5. Be gracious. View complete details HERE.
View this Money Couple Minute and all the others HERE.
Tags: financial communication, money communication, wedding cost calculator, wedding cost communication, wedding financial planning, wedding tips
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April 29th, 2010
When money is tight, the first thing to get cut from the budget is fun–things like vacations, dates, and family outings. But those are the parts of life that make it interesting! And what good is having a tight budget if you aren’t enjoying the life you’ve worked so hard to build?
If money is tight this year, don’t automatically assume you can’t take a vacation. Instead, take a good look at your budget and use these guidelines to decide what kind of get-away you can get away with.
- Make it about memories and don’t break the bank. Learn more
- Start planning now. Learn more
- Do some homework. Learn more
- Redefine vacation. Learn more
To get the full details for each of the 4 steps, view the entire Money Couple Minute HERE.
Tags: financial budget, financial communication, financial debt, money communication, money huddle, summer vacation plans, summer vaction ideas
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April 12th, 2010
Close to 14 million adult children are still living at home. These kids are called “The Boomerang Generation” and for good reason. Just when you think they’re gone, they come flying back.
As much as you love your kids, there comes a time when you’re ready for them to move into adulthood. When they aren’t quite ready—emotionally, socially, and financially—it’s hard to know what to do with them. Do you let them move in? Should they pay you? What about chores? The boundaries are beyond fuzzy and will be defined differently from family-to-family and from child-to-child.
Life with a boomerang child can be a valuable experience for you and your child if you follow a few basic guidelines…Read the entire Money Couple Minute “4 Tips to Help You with the Not-So-Empty Nest” HERE.
Tags: empty nest, financial communication, kids returning home, money communication, money huddle, money personalities, the money couple
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March 29th, 2010
More than half of all Americans will get a tax refund this year. Since the average refund is around $2800, that money can make a significant difference in your financial picture.
This money decision, like every other money decision, calls for solid financial communication. Once you know what your refund will be, use some of your Money Huddle time to discuss what you’d like to do with the cash.
Read the entire Money Couple Minute to get the 6 Tax Refund Tips for this year’s tax return.
Tags: financial communication, financial risk taking, money communication, money huddle, save money, tax refund, tax refund money, tax refund tips
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March 15th, 2010
We are meeting with lots of couples in this situation and seeing the stress this huge upheaval can cause in a relationship. If you’re losing your home, here’s how to pick up the pieces and move forward.
1. Grieve the loss - Get the complete details in this Money Couple Minute HERE.
2. Avoid the blame game - Find out how to avoid this pitfall in this Money Couple Minute HERE.
3. Decide how public you want to make this news - Learn how to decide together what the best plan is in this Money Couple Minute HERE.
4. Take some time off - What does it mean to take time off? Get some practical advice in this Money Couple Minute HERE.
Watch the Money Couple talk about “Life After Foreclosure” in this video from ABC News Now:
Tags: 4 steps to foreclosure recovery, financial communication, financial mistrust, foreclosure, life after foreclosure, money communication, the money couple
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March 1st, 2010
Every parent knows that our care and concern for our children doesn’t stop when they hit adulthood. But most of us are a little unclear on how that care should play out financially. Trying to figure out when and how to help adult children with money problems can lead parents into all kinds of financial miscommunication and conflict.
It doesn’t have to be that way. While the best approach for you will, of course, depends on the situation, there are 6 guidelines you need to keep in mind as you make financial decisions about your adult children.
1. Know your child’s Money Personality - Read more here
2. It’s ok not to play fair - Read more here
3. Respect each other - Read more here
4. Don’t hurt yourselves to take care of your kids - Read more here
5. Decide if there will be strings - Read more here
6. If there are strings, get them in writing - Read more here
Read this week’s entire Money Couple Minute - HERE.
Tags: financial communication, helping children financially, kids and giving, kids and money, kids and spending, money communication
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